Bank of America Product manager Reviews | Glassdoor

Bank of America Product Manager Reviews

Updated Oct 2, 2019

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Found 44 reviews

2.9
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Rating TrendsRating Trends
37%
Recommend to a Friend
38%
Approve of CEO
Bank of America CEO Brian T. Moynihan
Brian T. Moynihan
25 Ratings
  1. "Product manager"

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    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Product Manager in Plano, TX

    I have been working at Bank of America full-time for more than 5 years

    Pros

    Great beneifts and employee perks

    Cons

    Seem to be a reasonable amount of turn over.

    Bank of America2016-09-19
  2. "Great place to have a foundation"

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    Current Employee - Product Manager 

    I have been working at Bank of America part-time

    Pros

    Its an easy environment to learn

    Cons

    You get a lot of grunt work in your early days

    Bank of America2019-10-02
  3. Helpful (1)

    "You are only a number! They should do better!"

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    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Senior Product Manager in Charlotte, NC
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I worked at Bank of America full-time for more than 10 years

    Pros

    Benefits are great, people are great, some of the smartest sales teams in the industry. I fully enjoyed my years with BofA. They treated me well until the inevitable workforce reductions caught up with me.

    Cons

    Bank of America is serious about D&I but there are demographics that totally get ignored (ageism). The odds of being downsized increase the older you get and the higher salary. Most Management in the Product area seriously lack training and people skills. Annual reviews are a joke. Bank of America is moving a significant number of people to a new building in Charlotte to an “open concept” work area. Be... aware that in BofA terms, this means they shove as many people as possible into an open space. Great for cost savings but terrible for a work environment! Management does not care. Even employees with disabilities are being moved.

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    Advice to Management

    BofA can be a great a place to work. Management should spend some money on training and developing people skills. Your current management are making life-impacting decisions without empathy! BofA is talking a good game but that’s it. The sole purpose of this talk is to gain media attention and community praise!

    Bank of America2019-05-30
  4. "GT&O is a real outdated dog"

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    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Product Manager, Technology in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Bank of America full-time for more than a year

    Pros

    generous PTO at VP level

    Cons

    *comp/bonus for top skill technologists is extremely uncompetetive *internal tech talent is consequently unmotivated/ lazy/ has outdated skills * the only ppl that stick around are H1B visa slaves who can't move *company is really behind on agile transformation *no fresh talent, outdated dinosaur old-timers with outdated skills hang around like albatross around neck and prevent any good... progress *applications and technologies are outdated, 15+ years beyond expiration date * sad looking tech offices that have not been revamped or renovated in last 15 years * average IQ of thech workers here is equivalent to that of MickeyD servers

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    Advice to Management

    fire Cathy Bessant and get someone who is more on top of, and in-tune with modern technologies Cathy keeps bank technologies in stone age. BofA will never catch up w/ JP Morgan Chase technology

    Bank of America2019-02-03
  5. "Transaction Services"

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    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Associate Product Manager in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of America full-time for more than 3 years

    Pros

    Management analyst program gave good exposure Market leader in cash management Opportunity for senior exposure Learn from some of the industry’s smartest

    Cons

    Culture is great but can drive comfort in mediocrity Title promotion limited by tenor not necessarily merit Complex organizational matrix

    Bank of America2018-02-28
  6. "Heading in the right direction"

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    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Senior Product Manager 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of America full-time for more than 5 years

    Pros

    Work/Life Balance, engaging projects, consistent strategy

    Cons

    Annual compensation growth has not aligned with pay for performance mantra

    Bank of America2018-02-18
  7. Helpful (1)

    "Hostile culture and poor leadership"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Senior Product Manager in Charlotte, NC
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I worked at Bank of America full-time for more than 5 years

    Pros

    Experience working across lines of business in a matrix environment, global company experience

    Cons

    Unreasonable work/life balance, the epitome of the "good ole boy" network, extreme lack of diversity at mid level management and even more scarce at the senior and c-suite levels

    Advice to Management

    Value employees for their diverse talent and perspectives. Too many senior leaders set in thinking one way, because they've been at the bank for 15+ years. Minority employees are leaving at an alarming rate, due to the disparate treatment from leadership. The bank needs to take a hard look at their talent pipeline and recruiting strategy, or else they will continue losing amazing talent to competitors who treat... their employees better. Bank of America purports that they're serious about Diversity & Inclusion, but only to give the public that impression and only focuses on one diversity factor: women. There are so many more facets of diversity and they need to be considered. I would not recommend leadership continuing this trend if BAC wants to remain competitive in our ever-diversifying economy.

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    Bank of America2017-11-11
  8. "Reporting / IT"

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    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Consumer Product Manager in Dallas, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Bank of America full-time for more than 10 years

    Pros

    Decent flexibility in work , pay rate, time off. Independence in running department. IN the process of moving towards industry standard systems and tools.

    Cons

    Not a lot of interaction with sr management, goals are just rolled downhill and not explained well.

    Bank of America2017-10-25
  9. "Platform Product Manager"

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    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Product Manager in Newark, DE
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Bank of America for more than 10 years

    Pros

    Pretty good benefits, lots of opportunity if you have a great network

    Cons

    Constant layoffs, lack of leadership, lack of strategic direction in mid to lower level of management. Salaries are mediocre in some departments. You're never in a position to ask for more compensation because your manager (who knows who you are and what you do) lacks the ability and controls to increase it. You will not know what your min or max salary is for your job code and conversations with your manager... about it are useless. Bonuses in some departments are a joke and more insulting than their worth.

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    Advice to Management

    Senior leadership needs to seriously work on talent planning to develop their future leaders or there will not be a future. Need to revamp entire project model for addressing quality issues and funding projects.

    Bank of America2017-09-15
  10. "Culture is very dog eat dog. People are so afraid to make a mistake that nobody takes healthy risks."

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    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Marketing Product Manager in Charlotte, NC
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at Bank of America full-time for more than 3 years

    Pros

    Being a very large company provides Opportunities for advancement and the ability to learn lots of new skills and about different areas of the company.

    Cons

    The company is shrinking and so there are fewer open positions. Downsizing leads to people fearing layoffs and the overall culture shifts to a negative environment.

    Advice to Management

    Listen to associates and create a safe environment to express opinions

    Bank of America2017-03-06
Found 44 reviews